I was recently reminded of the Lassonde Curve, which tracks the value of a junior mining project through to development. I just posted a photo under the Photos tab showing how I would plot LAC's various projects along the curve. 

The projects I've identified are Cauchari phases 1 & 2, Thacker Pass phases 1 & 2, Pastos Grande (formerly Millennial), Arena's Sal de la Puna (LAC 17% ownership of Arena), and GT1's Seymour project (LAC 5% ownership of GT1). 

My plotting is highly subjective, I know, but I tried to place the younger projects in relation to when I see them entering the PEA and Engineering stages. I think I had the most difficulty with Cauchari Phase 2 because it's well along in it's engineering, but I'm not sure a PEA/PFS has been published. It appears the FS from 2020 only covers Phase 1. 

Anyway, something to play with if you'd like to have a look. Love to hear assessments of where I've gone astray.